Correlation Between Bilendi and BEBO Health
Can any of the company-specific risk be diversified away by investing in both Bilendi and BEBO Health at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Bilendi and BEBO Health into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bilendi and BEBO Health SA, you can compare the effects of market volatilities on Bilendi and BEBO Health and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Bilendi with a short position of BEBO Health. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bilendi and BEBO Health.
Diversification Opportunities for Bilendi and BEBO Health
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Bilendi and BEBO is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Bilendi and BEBO Health SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BEBO Health SA and Bilendi is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Bilendi are associated (or correlated) with BEBO Health. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BEBO Health SA has no effect on the direction of Bilendi i.e., Bilendi and BEBO Health go up and down completely randomly.
Pair Corralation between Bilendi and BEBO Health
Assuming the 90 days trading horizon Bilendi is expected to generate 1.27 times more return on investment than BEBO Health. However, Bilendi is 1.27 times more volatile than BEBO Health SA. It trades about 0.02 of its potential returns per unit of risk. BEBO Health SA is currently generating about -0.06 per unit of risk. If you would invest 1,820 in Bilendi on November 28, 2024 and sell it today you would earn a total of 300.00 from holding Bilendi or generate 16.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 97.01% |
| Values | Daily Returns |
Bilendi vs. BEBO Health SA
Performance |
| Timeline |
| Bilendi |
| BEBO Health SA |
Bilendi and BEBO Health Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bilendi and BEBO Health
The main advantage of trading using opposite Bilendi and BEBO Health positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bilendi position performs unexpectedly, BEBO Health can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in BEBO Health will offset losses from the drop in BEBO Health's long position.| Bilendi vs. Odyssee Technologies SA | Bilendi vs. Aures Technologies SA | Bilendi vs. Credit Agricole SA | Bilendi vs. Entech SE SAS |
| BEBO Health vs. Hotel Majestic Cannes | BEBO Health vs. Gaztransport Technigaz SAS | BEBO Health vs. Sartorius Stedim Biotech | BEBO Health vs. Kaufman Et Broad |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
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